Rush Enterprises (NASDAQ:RUSHA) Stock Gets Downgrade from Wall Street Zen

Rush Enterprises (NASDAQ:RUSHA) was downgraded by Wall Street Zen from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday, Wall Street Zen reports.

Other research analysts have also issued reports about the stock. UBS Group reissued a “neutral” rating and issued a $56.67 target price (up from $52.00) on shares of Rush Enterprises in a report on Tuesday, August 25th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rush Enterprises in a research note on Wednesday, October 21st. Zacks Research upgraded shares of Rush Enterprises from a “strong sell” rating to a “strong-buy” rating in a research report on Monday, November 2nd. Finally, Stephens dropped their price objective on shares of Rush Enterprises from $60.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, October 29th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Rush Enterprises has a consensus rating of “Buy” and an average target price of $50.26.

Rush Enterprises Price Performance

Shares of Rush Enterprises stock opened at $45.08 on Friday. The firm has a market cap of $5.26 billion, a PE ratio of 19.52, a PEG ratio of 1.66 and a beta of 0.89. The stock has a 50 day moving average of $46.66 and a 200 day moving average of $36.78. The company has a current ratio of 1.44, a quick ratio of 0.37 and a debt-to-equity ratio of 0.15. Rush Enterprises has a 12 month low of $30.94 and a 12 month high of $55.74.

Rush Enterprises (NASDAQ:RUSHA) last released its quarterly earnings data on Tuesday, October 27th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.01. The business had revenue of $2.11 billion for the quarter, compared to the consensus estimate of $2.05 billion. Rush Enterprises had a return on equity of 11.91% and a net margin of 3.70%. On average, research analysts expect that Rush Enterprises will post 2.43 EPS for the current fiscal year.

Hedge Funds Weigh In On Rush Enterprises

Several large investors have recently modified their holdings of the stock. Intech Investment Management LLC purchased a new stake in Rush Enterprises during the 3rd quarter valued at $4,408,000. Bessemer Group Inc. boosted its stake in Rush Enterprises by 50.1% during the third quarter. Bessemer Group Inc. now owns 85,303 shares of the company’s stock worth $3,908,000 after buying an additional 28,464 shares during the period. Hantz Financial Services Inc. boosted its stake in Rush Enterprises by 247.2% during the third quarter. Hantz Financial Services Inc. now owns 1,913 shares of the company’s stock worth $88,000 after buying an additional 1,362 shares during the period. Royce & Associates LP increased its position in Rush Enterprises by 37.6% during the third quarter. Royce & Associates LP now owns 84,083 shares of the company’s stock valued at $3,852,000 after acquiring an additional 22,974 shares during the last quarter. Finally, William Blair Investment Management LLC increased its position in Rush Enterprises by 22.8% during the third quarter. William Blair Investment Management LLC now owns 232,105 shares of the company’s stock valued at $10,633,000 after acquiring an additional 43,066 shares during the last quarter. Institutional investors own 84.43% of the company’s stock.

Rush Enterprises Company Profile

Rush Enterprises, Inc operates Rush Truck Centers, a network of commercial vehicle dealerships serving customers in the United States and Canada. The company sells new and used heavy-, medium- and light-duty trucks, representing manufacturers such as Peterbilt and other commercial vehicle brands.

Its services include truck parts and repairs, collision and body work, leasing and rentals, and related financing and insurance products. Rush also provides aftermarket support designed to help commercial fleets and individual truck operators maintain and manage their vehicles.

Founded in 1965 as a truck dealership in Houston, Texas, Rush Enterprises has grown into a broad commercial vehicle distribution and service business.